http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 25 Apr 2018 00:44:18 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Ellex Medical Lasers delivers strong sales growth across its medical devices products ]]> http://www.proactiveinvestors.com.au/companies/news/195002/ellex-medical-lasers-delivers-strong-sales-growth-across-its-medical-devices-products-195002.html Ellex Medical Lasers Ltd (ASX:ELX) has released a positive sales update for the nine months to March 31, 2018.

Comparing Ellex iTrack sales for the nine months to March 31, 2018, with the previous corresponding period 12 months ago, group sales were up 57% in the US and 40% globally.

Ellex designs, develops, manufactures and sells innovative products that help eye surgeons to treat eye disease.

Medical devices pitched at treatment of glaucoma

The company is a global leader in medical devices for the diagnosis and treatment of eye disease.

Ellex chief executive officer Tom Spurling said: “Growth in demand for glaucoma devices is driven by emerging recognition of poor patient compliance and side effects associated with medication.

“With Ellex iTrack and Ellex tango™, we offer surgeons restorative glaucoma therapy options that eliminate these problems.

“This is the central theme to our growth strategy.”

Ellex prominent in mid-stage restorative glaucoma therapy

The wider Ellex glaucoma business comprises the proprietary Ellex iTrack minimally invasive glaucoma surgery device (MIGS).

The other key device is the proprietary Ellex tango SLT laser for early stage disease.

Ellex holds a unique global position for early to mid-stage restorative glaucoma therapy.

iTrack generates US$6.1 million in sales

Ellex iTrackTM global sales were US$6.1 million for the nine-month period, up 40% on the previous corresponding period.

The strong growth in US sales recorded in the March quarter represented the seventh consecutive quarter of growth for that product in that region.

Management expects the rate of sales growth in the US to increase in the June quarter as a result of additional sales representative recruitment in areas where it hasn’t been represented.

Elsewhere, there has been a healthy increase in sales through the company’s distributor in China while markets in Germany, Russia and Brazil remain robust.

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Mon, 16 Apr 2018 12:53:00 +1000 http://www.proactiveinvestors.com.au/companies/news/195002/ellex-medical-lasers-delivers-strong-sales-growth-across-its-medical-devices-products-195002.html
<![CDATA[News - Ellex Medical Lasers expanding production capacity to meet rising demand ]]> http://www.proactiveinvestors.com.au/companies/news/183333/Ellex-Medical-Lasers-expanding-production-capacity-to-meet-rising-demand-183333.html Ellex Medical Lasers Limited (ASX:ELX) is increasing the production of its iTrack™ microcatheter to circa 50,000 units per annum from the current level of circa 20,000 units per annum.

The company’s illuminated microcatheters are used by physicians to perform canaloplasty for glaucoma patients.

Ellex is aiming to upgrade the production to 50,000 units per annum by expanding its manufacturing facility in Fremont, California.

In July 2017, the production capacity at Fremont was upgraded from 10,000 units per annum to 20,000 units per annum.

This second stage production expansion is expected to be completed by July 2018, by adding clean room facilities in an adjacent building and by recruiting additional technical staff.

In addition, a third stage production capacity increase to more than double the 50,000 units per annum in order to maintain supply for future demand, is currently being planned.

Ellex has witnessed material sales growth in the U.S., supported by an increase in marketing and sales spend.

Importantly, the sales performance of the Ellex’s iTrack™ technology was strong during the 2017 financial year, with sales of $8.2 million.

This represents a 41% annual growth in unit sales compared to the prior comparable period.

Sales outside of the U.S. were $3.5 million, an uplift of 49% on the prior comparable period

The expansion of the Fremont production facility will be funded from the group’s existing cash resources and earnings.

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Mon, 04 Sep 2017 08:47:00 +1000 http://www.proactiveinvestors.com.au/companies/news/183333/Ellex-Medical-Lasers-expanding-production-capacity-to-meet-rising-demand-183333.html
<![CDATA[News - Ellex Medical Lasers promotes glaucoma surgery device in China ]]> http://www.proactiveinvestors.com.au/companies/news/170506/ellex-medical-lasers-promotes-glaucoma-surgery-device-in-china-170506.html iTrack is an illuminated, micron-scale microcatheter, which enables physicians to perform canaloplasty for glaucoma patients.

This is the first program of clinical training in China for physicians in the ab interno canaloplasty (ABiC) technique using iTrack.

To date, sales in China have been limited because only the more complex ABiC surgery technique has been marketed.

Ellex’s program in China to relaunch iTrack for the simpler, faster ABiC technique is expected to be well received.

The training programs will be conducted at leading hospitals and teaching institutions in Shanghai and Beijing during 12-17 December 2016.

It is worth noting that Ellex iTrack™ is the only MIGS device in the world currently approved by the Chinese medical device regulatory authority for sale in China.

The current spend in China for the treatment of eye diseases is expected to double over the next five years, growing at a CAGR of 15% to reach US$5.3 billion per annum by 2021.

This growing demand, combined with strong global interest in MIGS, offers a favourable market outlook for Ellex iTrack.

Earlier this month, Ellex raised $10.3 million from a placement of shares with Australian and New Zealand investors, at $1.46 per share.

The funds will be used to accelerate the development of the company’s MIGS business focussed on the U.S. and Chinese markets.

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Thu, 15 Dec 2016 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170506/ellex-medical-lasers-promotes-glaucoma-surgery-device-in-china-170506.html
<![CDATA[News - Ellex Medical Lasers bags $10.3M to further glaucoma surgery devices ]]> http://www.proactiveinvestors.com.au/companies/news/169806/ellex-medical-lasers-bags-103m-to-further-glaucoma-surgery-devices-169806.html The funds will be used to accelerate the development of Ellex’s minimally invasive glaucoma surgery device (MIGS) business focussed on the U.S. and Chinese markets.

In the U.S., this will include building a sales force of at least 15 people over the next six to nine months, up from six at the moment.

Ellex is also developing a pipeline of products to underpin its role as an emerging leader in the MIGS device market.

Furthermore, the funds will be utilised to increase surgeon engagement through clinical training and key opinion leader development across the Ellex product ranges to advance sales.

The company’s iTrack is an illuminated, micron-scale microcatheter, which enables ophthalmologists to perform canaloplasty for glaucoma patients.

The latest capital raising puts Ellex in a position to capitalise on growth opportunities for iTrack in the U.S. and Chinese markets.

Ellex’s revenue for the year ended 30 June 2016 was $73 million, a $10.1 million (16%) increase compared to the prior corresponding period.

Significantly, profit before tax for FY2016 was $4.2 million, a 61% increase from $2.6 million in FY2015.

Ellex’s share price has increased by about 56% since June 2016, last trading at $1.54.

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Thu, 01 Dec 2016 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169806/ellex-medical-lasers-bags-103m-to-further-glaucoma-surgery-devices-169806.html
<![CDATA[News - Ellex Medical Lasers Ltd to raise funds ]]> http://www.proactiveinvestors.com.au/companies/news/169705/ellex-medical-lasers-ltd-to-raise-funds-169705.html Shares in the company last traded at $1.59, and have increased three-fold over the past year.

The halt will remain in place until the opening of trade on Friday 2nd December 2016, or earlier if an announcement is made to the market.

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Wed, 30 Nov 2016 08:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169705/ellex-medical-lasers-ltd-to-raise-funds-169705.html
<![CDATA[News - Ellex Medical Lasers Ltd awarded $2.5M federal government grant ]]> http://www.proactiveinvestors.com.au/companies/news/165578/ellex-medical-lasers-ltd-awarded-25m-federal-government-grant-70689.html Ellex Medical Lasers Ltd (ASX:ELX) has been awarded a grant of $2.5 million from the Australian federal government’s “Next Generation Manufacturing Investment Programme”.

The grant will facilitate the investment in advanced equipment and systems needed to expand Ellex’s manufacturing capacity.

Ellex manufactures lasers and other medical devices for the diagnosis and treatment of eye disease.

The award of this grant corresponds with Ellex’s manufacturing site relocation from the Adelaide CBD to Mawson Lakes, 15 kilometres north, and corresponding production capacity expansion.

The grant is payable by the government to Ellex over a period of up to 3 years.

Ellex’s revenue for the year ended 30 June 2016 is expected to be about $72.9 million, a $10.1 million (16%) increase compared to the prior corresponding period.

Significantly, estimated profit before tax for FY2016 is $4.2 million, a 61% increase from $2.6 million in FY2015.

Ellex’s share price has increased by more than 45% since the start of 2016, last trading at $1.09.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 26 Aug 2016 12:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165578/ellex-medical-lasers-ltd-awarded-25m-federal-government-grant-70689.html
<![CDATA[News - Ellex Medical Lasers Ltd to promote proprietary glaucoma surgery ]]> http://www.proactiveinvestors.com.au/companies/news/152096/ellex-medical-lasers-ltd-to-promote-proprietary-glaucoma-surgery-68472.html Ellex Medical Lasers Ltd (ASX:ELX) will present a positive 12-month case series data for the company’s proprietary ABiC minimally invasive glaucoma surgery (MIGS) procedure at the American Society of Cataract and Refractive Surgery meeting in New Orleans, U.S.A.

Ellex manufactures lasers and other medical devices for the diagnosis and treatment of eye disease.

The results from the case series study show that ABiC can effectively reduce intraocular pressure (IOP or fluid pressure inside the eye) and medication dependence in glaucoma patients with minimal complications.

The case series study, which was undertaken in the U.S., included 228 eyes with mild-to-moderate glaucoma who underwent ABiC either alone or in combination with cataract surgery.

Encouragingly, in 98 patients who underwent ABiC as a standalone procedure, there was an average decrease of 36.74% in IOP and 66.66% in medications.

Data for the entire patient cohort showed a total average decrease of 30% in IOP and a 50% reduction in medications, 12 months after the ABiC surgery.

The company had developed ABiC to address the shortcomings of conventional glaucoma treatment options, which includes chronic use of daily multi-dose topical glaucoma medications.

Since launching ABiC into the fast-growing MIGS market, Ellex has achieved sales growth in the U.S of 25% during the 9 months to 31 March 2016, compared with the prior corresponding period.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 06 May 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152096/ellex-medical-lasers-ltd-to-promote-proprietary-glaucoma-surgery-68472.html
<![CDATA[News - Ellex Medical Lasers Ltd to outline placement details ]]> http://www.proactiveinvestors.com.au/companies/news/152095/ellex-medical-lasers-ltd-to-outline-placement-details-67896.html Ellex Medical Lasers Ltd (ASX:ELX) has been granted a trading halt by the ASX, pending details of a placement.

Shares in the company recently hit a 12-month high of $0.90, and last traded at $0.77 before the halt was called.

This is three times higher than where the company was trading a year ago.

The halt will remain in place until the opening of trade on Friday 8th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Wed, 06 Apr 2016 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152095/ellex-medical-lasers-ltd-to-outline-placement-details-67896.html
<![CDATA[News - Ellex Medical Lasers’ research partner secures grant ]]> http://www.proactiveinvestors.com.au/companies/news/152094/ellex-medical-lasers-research-partner-secures-grant-63446.html Ellex Medical Lasers’ (ASX:ELX) research collaborator Professor Erica Fletcher from the University of Melbourne has been awarded a $355,000 Australian Research Council (ARC) Linkage grant.

The funds will be used to detail the precise effects its 2RT laser has on cells, cell populations and the body as a whole.

It will provide fundamental knowledge on the impact of 2RT™on cell biology of immune cells and cell signalling pathways in the retina.

The work will also give Ellex’s researchers a better understanding of the mechanism of action and potential uses of the 2RT laser currently in use in clinical trials for the treatment of early-stage age-related macular degeneration.

During FY2015, sales of commercial 2RT units increased to early adopters and research collaborators in Holland, Germany, Italy, France, New Zealand and Australia.

As of 15th June 2015, these commercial 2RT units had been used to perform approximately 1,500 procedures on 940 patients. These patients and treatments are in addition to the patients being treated in the LEAD trial.

The potential market for AMS across the U.S., UK, Germany, France, Spain, Italy and Japan will almost double in value to $10.1 billion by 2023 from $5.1 billion in 2013.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 14 Jul 2015 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152094/ellex-medical-lasers-research-partner-secures-grant-63446.html
<![CDATA[News - Ellex Medical Lasers has support for its macular degeneration treatment ]]> http://www.proactiveinvestors.com.au/companies/news/152093/ellex-medical-lasers-has-support-for-its-macular-degeneration-treatment-62448.html Ellex Medical Lasers (ASX:ELX) has announced additional scientific research validating the method of action of the company’s proprietary Retinal Rejuvenation Therapy (2RT) for the treatment of early age-related macular degeneration.

Research found that directly following treatment by 2RT of the targeted retinal pigment epithelium (RPE) cells, the surrounding, surviving cells grew into the vacated spaces and stimulated expression of a range of protein factors, triggering a regenerative effect on nearby RPE cells.

This confirmed the positive cellular response induced by 2RT, validating its previously postulated method of action.

It offers the potential for 2RT to emerge as a platform technology that could provide additional, alternative therapeutic applications.

The research is expected to be published in a peer-review publication during the 2016 financial year.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 19 May 2015 14:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152093/ellex-medical-lasers-has-support-for-its-macular-degeneration-treatment-62448.html
<![CDATA[News - Ellex Medical Lasers treatment receives German praise ]]> http://www.proactiveinvestors.com.au/companies/news/152092/ellex-medical-lasers-treatment-receives-german-praise-58552.html Ellex Medical Lasers’ (ASX:ELX) proprietary Canaloplasty technology has been recognised as the new ‘gold standard’ in the surgical treatment of glaucoma by patient advocacy group The German Federate Eye Association.

This is a step towards the technology being recognised as the standard of care for glaucoma surgery worldwide.

The glaucoma surgical device market is valued at about A$275 million. This is expected to grow at an annual rate of 24% to reach $A$870 million by 2019.


Canaloplasty

Canaloplasty uses the company’s patented iTrack microcatheter to enlarge the eye’s natural drainage system.

Unlike traditional trabeculectomy surgery, which creates an artificial drainage channel, Canaloplasty restores the function of the eye’s natural outflow system in order to reduce the elevated intraocular pressure associated with glaucoma.

Being minimally invastive, Canaloplasty provides an improved safety profile and allows surgeons to reduce or eliminate many post-operative complications.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 29 Oct 2014 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152092/ellex-medical-lasers-treatment-receives-german-praise-58552.html
<![CDATA[News - Ellex Medical Lasers reaches key milestone for its macular degeneration treatment ]]> http://www.proactiveinvestors.com.au/companies/news/152091/ellex-medical-lasers-reaches-key-milestone-for-its-macular-degeneration-treatment-53116.html Ellex Medical Lasers (ASX: ELX) should trade higher after securing a CE Mark for its proprietary Retinal Rejuvenation Therapy, 2RT™ laser treatment of early stage age-related macular degeneration.

This is the leading cause of blindness in the developed world, and affects one in seven Australians over the age of 50.

There are no other approved treatments for its early form, and current treatment options only target the late form of the disease, referred to as Wet AMD, which accounts for just 10-15% of sufferers.

Ellex's world-first treatment is now available for limited roll out to key clinical sites in Europe, Australia, New Zealand, and in several South East Asian, Middle Eastern and South American countries.

Unlike current treatments, 2RT aims to treat the disease before complications set in.

Retinal Rejuvenation Therapy delivers nanosecond pulses of laser energy to stimulate a natural, biological healing response in the eye.

This process of regeneration rejuvenates the entire transport mechanism of the retina, improving visual function and reducing disease progression.

The breakthrough approach retains the therapeutic effect of laser therapy whilst eliminating the thermal tissue damage inherent in conventional retinal photocoagulation laser treatment.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 24 Feb 2014 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152091/ellex-medical-lasers-reaches-key-milestone-for-its-macular-degeneration-treatment-53116.html
<![CDATA[News - Ellex Medical Lasers wraps up acquisition of glaucoma treatment company ]]> http://www.proactiveinvestors.com.au/companies/news/152090/ellex-medical-lasers-wraps-up-acquisition-of-glaucoma-treatment-company-51604.html Ellex Medical Lasers (ASX: ELX) has completed the acquisition of the canaloplasty business of U.S. based iScience Interventional, which comprises the iTRACK™ 250 catheter and suture device for the eye disease glaucoma.

Pursuant to the binding agreement it entered on 18 December, Ellex paid US$1.5 million in exchange for iScience Interventional’s canaloplasty business, including accounts receivable of US$500,000 and inventory of $500,000.

Consideration for the purchase also includes an earn-out over several years, based on a percentage of business revenues.

The new canaloplasty business will augment Ellex's capital equipment sales business with a recurring consumable revenue stream, and provide customers with a minimally invasive product to treat mild to moderate glaucoma.

Combined with the SLT laser product portfolio, which targets the early stage of glaucoma, iTrack™ will enable Ellex to cement its position as a global leader in early to moderate glaucoma treatment and intervention.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 06 Jan 2014 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152090/ellex-medical-lasers-wraps-up-acquisition-of-glaucoma-treatment-company-51604.html
<![CDATA[News - Ellex Medical Lasers has eye on acquisition, capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/152089/ellex-medical-lasers-has-eye-on-acquisition-capital-raising-51254.html Ellex Medical Lasers (ASX: ELX) has some interesting news on the horizon in the form of an acquisition, with the company also preparing details of an associated capital raising.

The ASX has granting the company a trading halt, with its shares placed in pre-open.

Ellex Medical is a supplier of ophthalmic products into a growing and competitive market, with the company focused on the diagnosis and treatment of eye disease.

The halt will remain in place until the opening of trade on Friday 20th December 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 18 Dec 2013 14:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152089/ellex-medical-lasers-has-eye-on-acquisition-capital-raising-51254.html
<![CDATA[News - Ellex Medical Lasers records double-digit sales growth for laser glaucoma treatment ]]> http://www.proactiveinvestors.com.au/companies/news/152088/ellex-medical-lasers-records-double-digit-sales-growth-for-laser-glaucoma-treatment-50101.html Ellex Medical Lasers Limited (ASX:ELX) is looking to move higher after recording a solid improvement in sales for its glaucoma laser equipment during the four months ended 31 October 2013.

The company commenced sales of its SLT glaucoma laser range (Tango™ and Solo™) in the U.S. during July 2013.

Of particular significance was a material improvement of sales in the U.S., which contributed significantly to the double digit growth at a group level over the last few months.

Interest from ophthalmologists in the U.S. has been strong, and combined with new product introductions and the lowering of the AUD relative to the USD Dollar, has resulted in a boost to US sales of approximately 80% compared to this time last year.

A number of planned sales and marketing initiatives, including the display of Ellex's laser range at the 2013 Annual Meeting of the American Academy of Ophthalmology in New Orleans this month, are expected to boost sales further.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 12 Nov 2013 13:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152088/ellex-medical-lasers-records-double-digit-sales-growth-for-laser-glaucoma-treatment-50101.html
<![CDATA[News - Ellex Medical Lasers raises funds to advance eye diagnostic technology ]]> http://www.proactiveinvestors.com.au/companies/news/152087/ellex-medical-lasers-raises-funds-to-advance-eye-diagnostic-technology-48225.html Ellex Medical Lasers (ASX: ELX) has received a vote of confidence in the company's medical technologies for the diagnosis and treatment of eye disease known as ophthalmic products, with strong support in a capital raising.

It raised A$3.3 million through a placement to institutional and sophisticated investors, priced at A$0.26 per share - a 13.3% discount to the closing price before entering a trading halt earlier in the week.

The company develops, manufactures and markets lasers and diagnostic equipment for the treatment of eye disease to a growing global market.

The funds will be applied to the company's proprietary 2RT laser in the treatment of early Age-Related Macular Degeneration (AMD), in particular to accelerate recruitment for the 300 patient early AMD clinical trials via new sites in the U.S., Europe and Australia.

Proceeds will also be used to reduce debt.

Highlighting the interest in ophthalmic lasers, Abbot (NYSE: ABT) acquired Optimedica Corporation for US$250 million upfront and further US$150 million in earn out.

Ellex's revenue for FY13 was $42.8 million, which is dispersed across the globe and includes around a quarter from both the Americas and Japan, and about a fifth from Australia.

The company has been a strong share price performer of late, with its stock up around 50% in just over two-months.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 19 Sep 2013 14:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152087/ellex-medical-lasers-raises-funds-to-advance-eye-diagnostic-technology-48225.html
<![CDATA[News - Ellex Medical Lasers to outline capital plans, shares on the fly ]]> http://www.proactiveinvestors.com.au/companies/news/152086/ellex-medical-lasers-to-outline-capital-plans-shares-on-the-fly-48099.html Ellex Medical Lasers (ASX: ELX) operates in the current market 'hot spot' of the medical device sector, with its shares close to doubling recently from the May lows.

Ellex Medical is now heading to market with a capital raising, with the ASX granting the company a trading halt - with its shares placed in pre-open.

The company develops, manufactures and markets lasers and diagnostic equipment for the treatment of eye disease to a growing global market.

Highlighting the interest in ophthalmic lasers, Abbot (NYSE: ABT) acquired Optimedica Corporation for US$250 million upfront and further US$150 million in earn out.

Ellex Medical's revenue for FY13 was $42.8 million, which is dispersed across the globe and includes around a quarter from both the Americas and Japan, and about a fifth from Australia.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Thursday 19th September 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 17 Sep 2013 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152086/ellex-medical-lasers-to-outline-capital-plans-shares-on-the-fly-48099.html
<![CDATA[News - Ellex Medical Lasers achieves key milestones in eye disease clinical trial ]]> http://www.proactiveinvestors.com.au/companies/news/152085/ellex-medical-lasers-achieves-key-milestones-in-eye-disease-clinical-trial-47563.html Ellex Medical Lasers (ASX:ELX) has reached several key milestones in clinical trials for its Retinal Rejuvenation Therapy (2RT™) used in the treatment of Early Age-Related Macular Degeneration.

Recruitment for the “Laser Intervention in Early Age-Related Macular Degeneration” trial recently surpassed 50 patients across two clinical sites at the Centre for Eye Research Australia in Melbourne and at Marsden Eye Clinic in Sydney.

Two further sites have since been established at Eye Surgery Associates in Melbourne and at Lions Eye Institute in Perth.

Patients in the treatment group will undergo the 2RT procedure in one eye, with treatment to be repeated at six-monthly intervals. Patients in the control group will undergo a placebo procedure.

The recent US FDA 510(k) approval for 2RT in the treatment of diabetic eye disease has cleared the pathway to extend the 2RT clinical trial program to the USA. Establishment of additional clinical sites in the USA and Europe over the coming months is expected to accelerate patient recruitment efforts.

There are no approved treatments for the early form of AMD, which represents a considerable market opportunity for Ellex, a pioneer in technologies for the diagnosis and treatment of eye disease.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 04 Sep 2013 14:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152085/ellex-medical-lasers-achieves-key-milestones-in-eye-disease-clinical-trial-47563.html
<![CDATA[News - Ellex Medical Lasers eyes U.S. market for glaucoma test ]]> http://www.proactiveinvestors.com.au/companies/news/152084/ellex-medical-lasers-eyes-us-market-for-glaucoma-test-45452.html Ellex Medical Lasers (ASX: ELX) has now launched the company's proprietary Selective Laser Trabeculoplasty (SLT) technology in the U.S., which follows the expiration of a patent which prevented Ellex from selling its SLT technology in the country.

With the patent barrier removed, there is the potential for Ellex to deliver a positive impact on revenue during the first quarter of the 2014 financial year, as the company builds market share. Ellex hold a 40% market share on an international basis.

The company generated total revenue of $22 million for the first half of financial year 2013.

Since its approval by the FDA in 2001 and subsequent market introduction in the U.S. and worldwide, SLT has steadily become the therapy of choice for glaucoma.

The impact of SLT has been proven highly effective in over 250 published clinical papers with a strong safety profile, and it also overcomes the compliance issues and side effects of medications.

Ellex develops, manufactures and markets, lasers and diagnostic equipment for the treatment of eye disease to a growing global market, with the SLT an advanced laser therapy which stimulates a natural healing response in the eye to treat glaucoma.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 11 Jul 2013 12:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152084/ellex-medical-lasers-eyes-us-market-for-glaucoma-test-45452.html
<![CDATA[News - Ellex Medical Lasers’ eye laser therapy in further clinical trials ]]> http://www.proactiveinvestors.com.au/companies/news/152083/ellex-medical-lasers-eye-laser-therapy-in-further-clinical-trials--36317.html Ellex Medical Lasers’ (ASX: ELX) eye laser therapy is now in clinical trials in the treatment of early age-related macular degeneration (AMD), with patient recruitment underway by the Centre for Eye Research Australia (CERA).

The multi-centre clinical trial is being undertaken to validate the clinical efficacy of retinal rejuvenation therapy, using the Ellex 2RT™, in the treatment of early AMD – a progressive disease affecting the central region of the retina called the macula.

The leading cause of blindness in the developed world, AMD affects one in seven Australians over the age of 50.

Researchers at CERA and other Australian and international clinical sites will take part in a double-blind, randomised control trial to expand the clinical investigations across a larger and more diverse patient sampling.

This follows successful pilot clinical studies that demonstrated the ability of Ellex 2RT™ to halt and reverse the degenerative processes caused by AMD.

CERA is looking to recruit people who have gone along for routine eye checks, or those who have had an eye check because of a family history of the disease and been told they have the start of AMD.

The initial form of the disease, known as early AMD, accounts for up to 80% of all AMD cases. It has been estimated that as of 2010, over 1 million Australians had AMD.

The clinical operation of the CERA site of the multi-centre trial is being supported by funding from the National Health and Research Centre and in partnership with the BUPA Foundation.

Ellex is providing equipment and technical support.


Marketing approval granted
   
Earlier this year Ellex secured CE Marking for the Ellex 2RT™in the treatment of diabetic macular edema. 

This paved the way for initial product sales in Europe, Australia, New Zealand, and several Southeast Asian, Middle East and South American countries.


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Fri, 23 Nov 2012 13:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152083/ellex-medical-lasers-eye-laser-therapy-in-further-clinical-trials--36317.html
<![CDATA[News - Ellex Medical Lasers to launch eye products in U.S. ]]> http://www.proactiveinvestors.com.au/companies/news/152082/ellex-medical-lasers-to-launch-eye-products-in-us-35561.html Ellex Medical Lasers (ASX: ELX) will have an audience of around 16,000 medical professionals as it launches a suite of new ophthalmic products at the American Academy of Ophthalmology congress in Chicago this week.

Among the products being launched will be an upgrade to the company’s successful Eye Cubed™ ultrasound to provide an interface for images with electronic medical records systems.

Ellex will also launch a new multi-wavelength photocoagulator for specialised treatment of retinal disease; a new pattern scanning photocoagulator for high-speed treatment of retinal disease; and a new premium laser for treatment of vitreous “floaters”, a common ailment which has previously been difficult for ophthalmologists to treat.

The American Academy of Ophthalmology congress runs from 10-13 November 2012.


Ellex at a glance

Ellex markets and sells its ophthalmic laser, ultrasound and imaging systems in more than 100 countries through a combination of third party distributors and direct sales subsidiaries (United States, Japan, France, Germany and Australia).

The company supplies to a large, growing global market, with the global ophthalmic device market worth around $8 billion and the laser market worth around $290 million per annum.

Ellex is targeting the release of its Ellex Tango glaucoma laser product in the U.S. from July 2013.

A pipeline of highly prospective products targeting new ophthalmic markets are expected to contribute to sales from the 2013 financial year onwards, with large, under-penetrated market opportunities.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 08 Nov 2012 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152082/ellex-medical-lasers-to-launch-eye-products-in-us-35561.html
<![CDATA[News - Ellex Medical Lasers wins ultrasound device manufacturing contract ]]> http://www.proactiveinvestors.com.au/companies/news/152081/ellex-medical-lasers-wins-ultrasound-device-manufacturing-contract--35282.html Ellex Medical Lasers (ASX: ELX) has been awarded a manufacturing contract by handheld ultrasound device developer Signostics.

Under the contract, Ellex will manufacture the critical sub-assembly of the Signos RT device in its manufacturing facility in Adelaide.

Ellex expects the agreement to be ongoing, with 800 units targeted for production over the coming six months.

The agreement with Signostics represents a major milestone in Ellex’s ultrasound development program, which accelerated in 2011 following the consolidation of Eye Cubed™ ultrasound manufacturing from Sacramento, California, to the Company’s Adelaide-based manufacturing facility.

This initiative resulted in the centralisation of design engineering and production of the Eye Cubed™, providing improved operational efficiencies and greater speed-to-market.


Profit turnaround

Ellex has witnessed a $2 million net profit before tax turnaround to a $1 million profit in the 2012 financial year.

A focus on inventory and receivables management has provided $3 million cash to improve terms of trade with suppliers and renegotiate debt terms with bank.

Ellex markets and sells its products in more than 100 countries through a combination of third-party distributors and direct sales subsidiaries.

Revenues for fiscal 2012 were up 10% to $47.5 million and EBITDA was up 190% to $3.2 million.

Ellex has a pipeline of highly prospective products targeting new ophthalmic markets expected to contribute to sales from fiscal 2013 onwards.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Thu, 01 Nov 2012 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152081/ellex-medical-lasers-wins-ultrasound-device-manufacturing-contract--35282.html
<![CDATA[News - Ellex Medical Lasers in turnaround, to deliver A$1.1m profit for fiscal 2012 ]]> http://www.proactiveinvestors.com.au/companies/news/152080/ellex-medical-lasers-in-turnaround-to-deliver-a11m-profit-for-fiscal-2012-31581.html Ellex Medical Lasers (ASX: ELX) is expecting to bank a net profit before tax of around $1.1 million on revenues of $47.5 million for the 2012 financial year, largely driven by an improved bottom line focus.

Importantly, this marks a $2 million turnaround in net profit before tax and a 10% increase in revenue over the 2011 financial year.

Ellex has focused its efforts on exercising tight cost control, reducing working capital, improving operating efficiencies and driving greater market penetration, which have contributed positively to the company’s cash flow and good operating result during the period.

The company expects to release its full-year result in the week of 27 August 2012.


Ellex at a glance

Ellex markets and sells its ophthalmic laser, ultrasound and imaging systems in more than 100 countries through a combination of third party distributors and direct sales subsidiaries (United States, Japan, France, Germany and Australia).

The company supplies to a large, growing global market, with the global ophthalmic device market worth around $8 billion and the laser market worth around $290 million per annum.

Ellex is targeting the release of its Ellex Tango glaucoma laser product in the U.S. from July 2013.

A pipeline of highly prospective products targeting new ophthalmic markets are expected to contribute to sales from the 2013 financial year onwards, with large, under-penetrated market opportunities.


Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

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Mon, 23 Jul 2012 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/152080/ellex-medical-lasers-in-turnaround-to-deliver-a11m-profit-for-fiscal-2012-31581.html
<![CDATA[News - Ellex Medical Lasers to unveil Integre Pro™ retinal disease treatment technology in U.S. ]]> http://www.proactiveinvestors.com.au/companies/news/152079/ellex-medical-lasers-to-unveil-integre-pro-retinal-disease-treatment-technology-in-us-20997.html Ellex Medical Lasers (ASX: ELX) will introduce Integre Pro™, an innovative laser platform for the treatment of retinal disease, at the upcoming meeting of the American Academy of Ophthalmology (AAO) in Orlando from 22 October 2011.

The unique Integre Pro™ system is the first photocoagulation laser to offer customised configuration of multiple laser wavelengths in a fully integrated, laser/slit lamp microscope design, representing the next evolution of the Ellex’s existing Integre® laser platform.

This advanced design will enable ophthalmologists to perform both diagnosis and treatment through taking advantage of the full spectrum of retinal laser treatments.

Tom Spurling, Ellex CEO, said “our unique, patented design allows physicians to both diagnose and treat retinal disease using the one system, saving the physician time and money – and giving us a considerable competitive advantage.”

Ellex sees an opportunity to leverage its engineering capabilities and global distribution network to target the growing global retinal laser market and is planning to release the system to the market from 2012 onwards.

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Thu, 20 Oct 2011 16:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152079/ellex-medical-lasers-to-unveil-integre-pro-retinal-disease-treatment-technology-in-us-20997.html
<![CDATA[News - Ellex Medical Lasers awarded Government grant for macular degeneration ]]> http://www.proactiveinvestors.com.au/companies/news/152078/ellex-medical-lasers-awarded-government-grant-for-macular-degeneration-3268.html Adelaide-based Ellex Medical Lasers (ASX: ELX) has been awarded a $0.54 million Victorian Government grant for the Ellex 2RT™ Research Program, to conduct a clinical trial investigating the efficacy of laser treatment for age-related macular degeneration (AMD).

Ellex shares were trading at $0.22.

The grant was awarded as part of the $41 million Victoria’s Science Agenda (VSA) Investment Fund, with the trial to be conducted by the Centre for Eye Research Australia (CERA), in partnership with Ellex R&D Pty Ltd.

Head of Macular Research at CERA, Professor Robyn Guymer said the trial is particularly exciting because unlike existing AMD treatments, Ellex 2RT™ treatment targets the disease in its early stages, before vision is lost.

“Currently, when a patient is diagnosed with early AMD, they’re told that nothing can be done until the disease reaches its late stages, by which time some patients have suffered irreversible vision loss,” Professor Guymer said.

The treatment involves a novel laser device developed by Ellex that delivers a controlled nanosecond dose of laser energy into the eye.

“In applying the laser therapy we hope to halt, or partially reverse, the progression of AMD before it
threatens a patient’s sight.”

According to the Macular Degeneration Foundation, AMD is the leading cause of blindness in Australia, affecting one in seven people over the age of 50 – and its prevalence is expected to increase due to aging demographics.

AMD is estimated to cost the community more than $2.6 billion annually.

Ellex CEO Simon Luscombe said "since launching the Ellex 2RT™ Research Program in 2007 we have made significant progress with our laboratory research and clinical trials, and this marks an important next step in our program."

"We are particularly pleased to be working with Professor Guymer, who has an outstanding track record in AMD research both locally and internationally,” he said.

Ellex is a recognised global leader in the design and manufacture of ophthalmic laser and ultrasound systems,

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Fri, 13 Nov 2009 06:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152078/ellex-medical-lasers-awarded-government-grant-for-macular-degeneration-3268.html
<![CDATA[News - Strong net cash flow growth for Ellex Medical Lasers for half year ]]> http://www.proactiveinvestors.com.au/companies/news/152077/strong-net-cash-flow-growth-for-ellex-medical-lasers-for-half-year-0914.html Ellex Medical Lasers (ASX:ELX), a global leader in the design and manufacture of ophthalmic laser and ultrasound systems, today announced its financial results for the half year ended 31 December 2008. The result demonstrates continued growth in a challenging economic environment.

During the half year, Ellex’s revenue increased 21% over the previous corresponding period, to $30.4 million. This result was achieved with a 1% increase in unit sales over the previous corresponding period. Both sales revenue and unit sales were at a record level for the company, with Ellex’s sales revenue clearly benefiting from the relatively low Australian dollar exchange rate.

Earnings Before Interest Tax and Depreciation (EBITDA), prior to the impact of the non-cash one-off items, was $2.5 million, a 13% increase over the prior comparable period. As a result of one-off items totalling $25.964 million after tax, detailed below, including the write-off of goodwill during the period, Ellex’s reported net loss after tax for the half was $23.2 million (HY2008: net profit of $1.2 million).

Net operating cash flow increased to $2.1m from a negative cash flow of -$2.0m for the previous period. 

Commenting on the results, Ellex’s CEO, Mr Simon Luscombe said “During the past six months of trading we have grown sales and operating results compared with last year, despite the deferral of some orders by our customers. This testifies to the strength of our brand and the effectiveness of our sales force. The fact that Ellex manufactures equipment used for medical re-imburseable procedures, has helped mitigate the effects of the current negative economic environment on our business”.

One–Off Items

During the half year to 31 December 2008, Ellex incurred two one-off items which totalled $25.3 million, which materially impacted reported profits. These were:

- Non-cash charge of $21.7 million relating to the write-off of goodwill carried in the Company’s balance sheet. This write-off is considered appropriate and prudent by the Directors, following receipt of independent professional advice in relation to this matter.
- Non-cash charge of $3.6 million being the unrealised losses on outstanding foreign exchange positions at balance date. These losses have previously been foreshadowed by the Company.

Bank Covenants

As a result of the accounting adjustments for the half year ended 31 December 2008, Ellex has breached two financial covenants within the finance facility. The Company’s lender has responded and indicated that at this time the Bank intends to take no action in relation to these potential breaches for the 31 December 2008 period only, subject to their review of Ellex’s facilities when the Bank is in possession of the 31 December 2008 audited financials and other necessary documents.

Outlook

Since October 2008, the Company has implemented a restructuring plan which has reduced staff by 18%. This reduction in operating costs, together with tighter inventory control is expected to positively impact operating cash flow during the current half year.

“The revenue growth in the first half is very pleasing; however, we have also placed a priority on implementing significant restructuring and cost reduction strategies during this period to better position our business to weather any further economic turmoil” commented CEO, Mr Simon Luscombe.

In January 2009, Ellex raised net proceeds of $1.5 million through a rights issue which will, together with the expected improvement in operating cash flow, enhance the Company’s underlying financial strength through debt reduction. In time, this will provide Ellex with the financial flexibility to continue to grow market penetration.

Ellex Medical Lasers designs, manufactures and sells a complete line of lasers and diagnostic ultrasound systems used by ophthalmologists to diagnose and treat eye diseases. With more than 14,000 systems delivered to the market, Ellex has evolved since 1985 from a manufacturing company of primarily OEM products, to direct marketing of its own branded products through subsidiaries in the United States, Japan and Australia, and a network of distribution partners in more than 100 countries. In December 2006 Ellex acquired Innovative Imaging, a leading provider of diagnostic ultrasound devices for ophthalmology, initiating the expansion of its product line beyond lasers.

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Thu, 26 Feb 2009 00:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/152077/strong-net-cash-flow-growth-for-ellex-medical-lasers-for-half-year-0914.html